Frequently Asked Questions & Answers About Student Loan Forgiveness

  • Q. What is Student Loan Forgiveness?

    Department of Education offers several different types of forgiveness programs for federal student loan debt.  If you meet certain criteria you can qualify for Forgiveness based on income, education fraud by the institution you attended and disabilities.

    Once the terms of the forgiveness are met, the government will waive the remaining principal balance and accrued interest.

  • Q. What is the 3-Step Enrollment Process?

    1. Complete your electronic enrollment packet & upload your income and identification documents all within the secure portal.
    2. My Education Solutions will process and submit your program application. Once your program is approved by the Department of Education, My Education Solutions will draft your new low monthly payment & one-time enrollment fee.
    3. Sit back & relax until it’s time for your annual re-certification.

  • Q. What Are The Six Steps To Student Loan Forgiveness?

    1. Find out whether you qualify: Take our free, online calculator.
    2. Enroll: Submit your documents.
    3. My Education Solutions files your paperwork.
    4. You’ll be notified of your approval. We’ll set your first program payment date and continue to monitor your program.
    5. Complete re-certification annually: submit your documents & inform us of any changes.
    6. Receive your forgiveness discharge once your program term is successfully completed.

    Learn more here.

  • Q. Is There A Cost To Enroll?

    There is no cost to receive your instant, on-screen results to see whether you qualify, or to get answers to your questions. After you are approved by the Department of Education, there is a  one-time enrollment fee of $299 and our $49 monthly management fee which is billed separately from your Servicer payment.

    MES does all the work for you upfront before collecting any money.  If you are not approved for Student Loan Forgiveness by the Department of Education, you will not be charged anything.

  • Q. What Are The Benefits Of Enrolling With My Education Solutions Versus Continuing With My Current Service Provider?

    My Education Solutions Offers:
    – Personalized service from Student Loan Forgiveness Experts.
    – Speak with people who care & understand the burden of student loan debt.
    – Receive direct answers to your questions so you can make more informed decisions.
    –  MES Guarantees if the Department of Education does not approve your application you will not be charged.
    – We won’t enroll you in a program without full-disclosure of your payments.
    – Our Team manages your program from start to finish, eliminating your need to deal with your service provider.
    – We have a proprietary calculator to instantly disclose (upfront) your forgiveness amount and your new low monthly payment.

  • Q. How Is My Education Solutions Different From Everyone else?

    My Education Solutions is not a loan servicer or refinance company–we are focused on administering government forgiveness programs. We are here to help you lower your monthly payments and receive the forgiveness you are legally entitled to.

  • Q. Can I Do This Myself?

    Yes, you can, but in our experience, our clients aren’t provided with the tools to succeed in obtaining student loan forgiveness by their loan servicers. My Education Solutions’ forgiveness experts fill in the gap so people who are legally entitled to this benefit are successful in obtaining it. Most importantly, we stay up-to-date on changes to government regulations, ensuring our clients are compliant.

  • Q. Will My Education Solutions Own My Federal Loans When I Enroll In The Student Loan Forgiveness Program?

    The Department of Education will always own your federal loans. We do not purchase the loan or refinance the loan, nor are we the agency that will grant your forgiveness.  Only the Department of Education will be the agency that forgives the remaining balance of your student loan debt once the term of your forgiveness program is completed.

    Since we are not refinancing your student loans MES can lower you payments and you can still qualify for Government Forgiveness opportunities that a refinance would have prevented you from.

    Q. How Do You Determine How Much Forgiveness I’m Entitled To?

  • A.

    Our Student Loan proprietary calculator will find the lowest payment for you and disclose your forgiveness amount upfront, prior to your providing any contact or financial information.

  • Q. Why Would My Forgiveness Amount Be Higher Than What I Currently Owe?

    Forgiveness program estimates are based on the total loan balance plus the interest accrued until the loan is forgiven. Compounding interest on your loan continues while you are enrolled in the program. It is possible that at the end of your program term, both the principle and interest will be forgiven. Please contact an advisor should you have any questions. (210) 812-3200 (Option 1).

  • Q. How Long Does The Enrollment Process Take?

    After you submit your enrollment documents, My Education Solutions will verify your information and submit it to the Department of Education on your behalf.  MES will continue to follow-up with them regarding your application.

    Once an approval is received your MES Advisor will reach out to you. 

    Typically, your first student loan payment will occur on the 1st of the following month.  Your Servicer will receive their draft in the same month and MES verifies that they acknowledge the payment was made and counted toward your Forgiveness program.

    A payment history and forgiveness tracking is available on CAP your Client Advocate Portal.

  • Q. When Can I Stop Paying My Current Student Loan Servicer Directly?

    You may stop making payments directly to your current student loan servicer once your first monthly student loan payment has been received by My Education Solutions.

  • Q. Do you offer Teacher Title 1 Forgiveness programs?

    Yes, we can assist you with Teacher Title 1 Forgiveness. However, based on our experience, the Public Service Loan Service Forgiveness program is often more beneficial as it results in more forgiveness compared to the limited amount (usually only $5,000) granted by the Teacher Title 1 Forgiveness Program.

  • Q. If I Am Currently In Default, Can I Still Enroll In Forgiveness?

    Yes, if your loans are in default or collections, you may still enroll into the Student Loan Forgiveness Program. If your employer or The Department of Education have contacted you about wage garnishment we may be able to still help you. Please contact us immediately.

  • Q. Is Student Loan Forgiveness Considered Taxable Income

    Yes, if you work for a for-profit organization or choose to not work you will receive a 1099 when the student loan debt is forgiven at the end of 240 payments (20 years). For Tax Free Student Loan Forgiveness you need to work for a qualified employer at least 30 hours a week and the term is 120 payments (10 years).

  • Q. Is Student Loan Forgiveness Considered Taxable Income

    Yes, if you work for a for-profit organization or choose to not work you will receive a 1099 when the student loan debt is forgiven at the end of 240 payments (20 years). For Tax Free Student Loan Forgiveness you need to work for a qualified employer at least 30 hours a week and the term is 120 payments (10 years).

    Qualified Employers include: Government, City, State, County, Tribal, Non-Profits, Education and Military.

  • Q. Does My Education Solutions offer debt management services, debt settlement, credit counseling or credit repair?

    No,  My Education Solutions assists consumers in applying for student loan forgiveness programs and maintaining eligibility in such programs only.